Common use of Restriction on Leases Clause in Contracts

Restriction on Leases. Borrower shall not, and shall not permit any of its Subsidiaries to, become liable in any way, whether directly or by assignment or as a guarantor or other surety, for the obligations of the lessee under any lease (other than the intercompany leases between Borrower and its wholly-owned Subsidiaries), unless, immediately after giving effect to the incurrence of liability with respect to such lease, the Consolidated Rental Payments at the time in effect during the then current Fiscal Year do not exceed $7,500,000 in the aggregate.

Appears in 2 contracts

Samples: Credit Agreement (Integrated Defense Technologies Inc), Credit Agreement (Integrated Defense Technologies Inc)

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Restriction on Leases. Borrower shall not, and shall not permit any of its Subsidiaries to, become liable in any way, whether directly or by assignment or as a guarantor or other surety, for the obligations of the lessee under any lease (other than the intercompany leases between Borrower and its wholly-owned Subsidiaries), unless, immediately after giving effect to the incurrence of liability with respect to such lease, the Consolidated Rental Payments at the time in effect during the then current Fiscal Year do not exceed $7,500,000 8,500,000 in the aggregate.

Appears in 1 contract

Samples: Credit Agreement (Integrated Defense Technologies Inc)

Restriction on Leases. Borrower Borrowers shall not, and shall not permit any of its their Subsidiaries to, become liable in any way, whether directly or by assignment or as a guarantor or other surety, for the obligations of the lessee under any lease for equipment (other than the intercompany leases between Borrower and its wholly-owned SubsidiariesBorrowers), unless, immediately after giving effect to the incurrence of liability with respect to such lease, the Consolidated Rental Payments at the time in effect during the then current Fiscal Year do not exceed $7,500,000 in the aggregate.aggregate amount of all rents paid or payable by Company and its Subsidiaries on 111

Appears in 1 contract

Samples: Credit Agreement (Danielson Holding Corp)

Restriction on Leases. Borrower shall not, will not and shall will not permit any of its Subsidiaries to, to become or remain liable in any way, whether directly or by assignment or as a guarantor or other surety, for the obligations of the lessee under any lease (other than the intercompany leases between Borrower and its wholly-owned Subsidiaries), unless, immediately after giving effect to if the incurrence aggregate amount of liability with respect to all rents paid by Borrower and its Subsidiaries under all such lease, the Consolidated Rental Payments at the time in effect during the then current Fiscal Year do not leases would exceed $7,500,000 200,000 in the aggregateany Fiscal Year.

Appears in 1 contract

Samples: Credit Agreement (First Wave Marine Inc)

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Restriction on Leases. Borrower shall not, and shall not permit any of its Subsidiaries to, become liable in any way, whether directly or by assignment or as a guarantor or other surety, for the obligations of the lessee under any lease (other than the intercompany leases between Borrower and its wholly-owned Subsidiaries), unless, immediately after giving effect to the incurrence of liability with respect to such lease, the Consolidated Rental Payments at the time in effect during the then current Fiscal Year do not exceed $7,500,000 30,000,000 in the aggregate.

Appears in 1 contract

Samples: Credit Agreement (Central Garden & Pet Company)

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